PureCycle Technologies, Inc. (NYSE:PCT) Receives Consensus Recommendation of “Hold” from Brokerages

PureCycle Technologies, Inc. (NYSE:PCT) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.90.

Several analysts have recently commented on PCT shares. Stifel Nicolaus restated a “buy” rating and issued a $7.00 target price on shares of PureCycle Technologies in a research note on Wednesday, July 3rd. TD Cowen raised their target price on shares of PureCycle Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, June 25th.

Institutional Trading of PureCycle Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of PureCycle Technologies by 7.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 26,846 shares of the company’s stock valued at $159,000 after purchasing an additional 1,850 shares during the period. Foster Victor Wealth Advisors LLC increased its holdings in PureCycle Technologies by 6.7% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 31,951 shares of the company’s stock valued at $192,000 after acquiring an additional 2,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in PureCycle Technologies by 1.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 183,600 shares of the company’s stock valued at $1,087,000 after acquiring an additional 2,083 shares in the last quarter. Sovereign Financial Group Inc. increased its holdings in PureCycle Technologies by 11.0% during the 4th quarter. Sovereign Financial Group Inc. now owns 26,700 shares of the company’s stock valued at $108,000 after acquiring an additional 2,652 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in PureCycle Technologies by 22.5% during the 4th quarter. Victory Capital Management Inc. now owns 17,004 shares of the company’s stock valued at $69,000 after acquiring an additional 3,128 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

PureCycle Technologies Stock Up 3.7 %

PCT stock opened at $7.75 on Friday. PureCycle Technologies has a one year low of $2.38 and a one year high of $11.89. The stock has a market capitalization of $1.28 billion, a PE ratio of -7.60 and a beta of 1.63. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.17 and a current ratio of 1.17. The company has a fifty day moving average of $5.78 and a 200-day moving average of $5.25.

PureCycle Technologies (NYSE:PCT) last released its earnings results on Tuesday, May 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.10). As a group, analysts expect that PureCycle Technologies will post -0.73 EPS for the current year.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.